Ted Baker sees 18.3% surge in Christmas sales
Ted Baker enjoyed an 18.3% surge in retail sales in the eight weeks to 4 January 2014 as the fashion retailer resisted introducing any significant promotions in the run-up to Christmas.
The company said its UK and European businesses had continued to perform well while online sales were strong following the launch of a new UK e-commerce platform at the start of the period.
As result, the board expects pre-tax profits for the year ending 25 January 2014 to be in line with expectations.
Average retail square footage rose by 10.9% over the period to 303,174 square feet, while gross margins were in line with expectations.
During the period, Ted Baker opened a store at Gatwick Airport's south terminal and continued its international expansion with the launch of a new store in Hong Kong and a second store in Turkey, which was opened through a licence partner.
The company said sales since Christmas had been “particularly strong” and that it expects to end the year with a clean stock position.
Ted Baker founder and chief executive Ray Kelvin said: "The group has delivered a strong result over the Christmas period in a competitive trading environment, reflecting the strength of the brand and quality and design of our product. We remain pleased by the brand's performance in our established territories and continue to invest in newer markets for the long term development of Ted Baker as a global lifestyle brand.”
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